Disclaimer

The facts and information provided to users in the pages of the Virtua website are for informational purposes only. Users should not rely on information on this Virtua website for any purpose other than for gaining general knowledge of the company. Material may be changed or updated without notice. Virtua is a data provider on behalf of Q4 Inc.

Discover First to Offer FICO® Credit Scores for Free to Everyone as Part of New Credit Scorecard

Online Service Gives Consumers the Credit Score that 90 Percent of
Top Lenders Use

RIVERWOODS, Ill.--(BUSINESS WIRE)--
Starting today, everyone can check their FICO® Credit Score
for free by using Discover’s new Credit Scorecard, including those who
are not Discover customers. In addition to providing the credit score
that 90 percent of top lenders use, Credit Scorecard provides a summary
of the data that determines an individual’s FICO® Score.

Users can sign up at discover.com/creditscorecard to get their
personalized credit profile and FICO® Score based on data
from Experian, a global leader in consumer credit reporting. With the
launch of Credit Scorecard, Discover is the only credit card issuer to
offer FICO® Scores for free to everyone.

“Credit scores play an important role in many of life’s big moments,
like buying a home or a car, taking out a student loan, even renting an
apartment,” said Roger Hochschild, Discover’s president and chief
operating officer. “At Discover, we think it’s important that consumers
have the information they need to manage their credit. With Credit
Scorecard, this information is readily available to everyone, Discover
customers and non-customers alike, in a way that’s both easy to use and
to understand.”

“When companies have consumers’ best interests at heart, amazing things
happen,” said Jim Wehmann, executive vice president, Scores, at FICO®.
“Discover has a knack for introducing products and services that
consumers love. Now, by making FICO® Scores available to
everyone through its Credit Scorecard, Discover is empowering people to
understand their financial health, beginning with seeing their FICO®
Score, which is used by 90 percent of top lenders to evaluate their
creditworthiness.”

Credit Scorecard is the latest in a line of products and services
offered by Discover to help consumers establish credit and better manage
their finances. In 2013, Discover became the first major credit card
issuer to provide FICO® Scores for free to cardmembers on
their monthly statements and online. In 2015, Discover introduced a
feature that enables cardmembers to track their recent FICO®
Scores. Earlier this year, Discover launched the Discover it®
Secured Credit Card for those looking to build or rebuild their credit.

“Discover recognizes how important it is for consumers to have a clear
understanding of their credit health. That’s why we have provided our
cardmembers with FICO® Scores for free since 2013,” said
Julie Loeger, Discover’s executive vice president and chief marketing
officer. “Now, we’re extending this benefit to everyone. With Credit
Scorecard, all consumers can check their FICO® Score for free
and use the information to help them stay on top of their credit.”

“We are very pleased that Discover is incorporating Experian's data into
its Credit Scorecard. This initiative reflects Experian and Discover’s
commitment to empower people to take a more active role in managing
their financial reputation and to make the most of their credit,” said
Alex Lintner, president, Consumer Information Services at Experian.
“Credit Scorecard is a great way for consumers to understand the
behaviors that shape their credit history, which is critical to them
being able to strengthen their financial well-being.”

People believe the simple act of checking one’s credit score can have a
positive impact on their credit behavior, according to a recent
independent survey1 commissioned by Discover. The survey
found that of those who had checked their credit score within the last
year, 61 percent said checking their score helped them improve their
credit behavior, such as paying bills on time, paying down loans and
maintaining low credit card balances. In addition, 60 percent of those
who had checked their credit score within the last year saw their score
improve, including 21 percent who said their score improved greatly and
39 percent who said their score improved slightly.

Credit Scorecard includes:

FICO® Score for free

What is helping and/or hurting the consumer’s FICO® Score

Summary of the data that determines the consumer’s FICO®
Score, including:

Number of missed payments

Number of accounts

Number of recent inquiries

Revolving credit usage

Length of credit history

Resources and education materials to help consumers stay on top of
their credit

For more information, go to discover.com/creditscorecard.

About Discover

Discover Financial Services (NYSE: DFS) is a direct banking and payment
services company with one of the most recognized brands in U.S.
financial services. Since its inception in 1986, the company has become
one of the largest card issuers in the United States. The company issues
the Discover card, America's cash rewards pioneer, and offers private
student loans, personal loans, home equity loans, checking and savings
accounts and certificates of deposit through its direct banking
business. It operates the Discover Network, with millions of merchant
and cash access locations; PULSE, one of the nation's leading ATM/debit
networks; and Diners Club International, a global payments network with
acceptance in more than 185 countries and territories. For more
information, visit www.discover.com/company.

FICO® Credit Scores provided by Credit Scorecard are based on
data from Experian and may be different from other credit scores. See
discover.com/creditscorecard to learn more. FICO® is a
registered trademark of the Fair Isaac Corporation in the United States
and other countries.

1 The national survey of 2,000 consumers ages 18 and over was
commissioned by Discover and conducted in March 2016 by Toluna, an
independent survey research firm. The maximum margin of sampling error
was ±5 percentage points with a 95 percent level of confidence. The
results were based on consumers’ self-reported estimated credit scores.